American Electric Power Company, Inc. (NASDAQ: AEP) shares purchased by Veriti Management LLC
Veriti Management LLC increased its stake in shares of American Electric Power Company, Inc. (NASDAQ: AEP – Get Rating) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor held 12,137 shares of the company after purchasing an additional 537 shares during the quarter. Veriti Management LLC’s holdings in American Electric Power were worth $1,211,000 when it last filed with the Securities and Exchange Commission.
A number of other hedge funds have also recently increased or reduced their stakes in AEP. Two Sigma Advisers LP acquired a new stake in American Electric Power during the third quarter worth approximately $1,250,000. National Asset Management Inc. increased its position in American Electric Power shares by 6.7% during the third quarter. National Asset Management Inc. now owns 8,697 shares of the company worth $707,000 after acquiring 546 additional shares in the last quarter. Atria Investments LLC increased its position in American Electric Power shares by 5.9% during the third quarter. Atria Investments LLC now owns 31,502 shares of the company worth $2,557,000 after acquiring an additional 1,750 shares in the last quarter. Cetera Advisor Networks LLC increased its position in American Electric Power shares by 33.7% during the third quarter. Cetera Advisor Networks LLC now owns 36,344 shares of the company worth $2,950,000 after acquiring an additional 9,162 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in American Electric Power shares by 3.0% during the third quarter. Cetera Advisors LLC now owns 17,274 shares of the company worth $1,402,000 after acquiring 509 additional shares in the last quarter. 73.26% of the shares are currently held by institutional investors.
A number of brokerages have recently released reports on AEP. Mizuho raised its price target on American Electric Power shares from $94.00 to $104.00 and gave the stock a “buy” rating in a Tuesday, March 29 research report. Wells Fargo & Company upgraded shares of American Electric Power from a “weighted” rating to an “overweight” rating and raised its target price for the stock from $93.00 to $101.00 in a Monday, February 28 research report. Credit Suisse Group issued a hedge on American Electric Power shares in a Monday, April 25 research report. They set an “outperform” rating and a target price of $113.00 for the stock. Seaport Res Ptn downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating in a Monday, March 14 research report. Finally, StockNews.com launched coverage on American Electric Power stocks in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Two research analysts rated the stock with a hold rating and six gave the company’s stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.98.
NASDAQ: AEP opened at $90.31 on Thursday. The company’s fifty-day moving average price is $99.02 and its 200-day moving average price is $94.36. American Electric Power Company, Inc. has a 1-year low of $80.22 and a 1-year high of $104.81. The company has a debt ratio of 1.28, a current ratio of 0.61 and a quick ratio of 0.54. The company has a market capitalization of $46.38 billion, a price-to-earnings ratio of 17.27, a growth price-to-earnings ratio of 2.90 and a beta of 0.34.
American Electric Power (NASDAQ:AEP – Get Rating) last released its quarterly earnings data on Thursday, April 28. The company reported earnings per share of $1.22 for the quarter, beating consensus analyst estimates of $1.19 by $0.03. The company posted revenue of $4.60 billion for the quarter, versus analyst estimates of $4.37 billion. American Electric Power had a net margin of 15.34% and a return on equity of 10.65%. American Electric Power’s quarterly revenue increased 7.0% year over year. During the same period last year, the company posted EPS of $1.15. As a group, analysts expect American Electric Power Company, Inc. to post earnings per share of 5.01 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Tuesday, May 10 received a dividend of $0.78 per share. The ex-dividend date was Monday, May 9. This represents an annualized dividend of $3.12 and a dividend yield of 3.45%. American Electric Power’s payout ratio is currently 59.66%.
In other American Electric Power news, Executive Vice President David Matthew Feinberg sold 2,699 shares of the company in a trade on Monday, April 4. The shares were sold at an average price of $100.85, for a total transaction of $272,194.15. Following the sale, the executive vice president now directly owns 16,302 shares of the company, valued at approximately $1,644,056.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Chief Financial Officer Julia A. Sloat sold 1,803 shares of the company in a trade Thursday, May 5. The stock was sold at an average price of $100.15, for a total transaction of $180,570.45. Following the sale, the CFO now owns 34,871 shares of the company, valued at $3,492,330.65. The disclosure of this sale can be found here. Insiders sold a total of 23,995 shares of the company worth $2,412,657 in the past 90 days. Insiders own 0.12% of the shares of the company.
American Electric Power Company Profile (Get an evaluation)
American Electric Power Company, Inc, an electric utility holding company, is engaged in the generation, transmission and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through the segments of Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Company and Generation and Marketing.
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